WIPO lauds Malaysian IP management

KUALA LUMPUR: Malaysia’s success in managing intellectual property has received the recognition of the Geneva-based World Intellectual Property Organisation (WIPO).

Domestic Trade, Cooperatives and Consumerism (KPDNKK) Minister Datuk Seri Hasan Malek said, during his visit to the world body recently, WIPO had expressed its admiration for the Malaysian Intellectual Property Corporation (MyIPO), an agency under KPDNKK, which managed intellectual property on a regular basis.

“It is not easy for Malaysia to obtain such recognition. It is the result of the cooperation of numerous quarters who overcame numerous challenges and obstacles since intellectual property was introduced in 1913,” he said when opening the National Intellectual Property Council here, yesterday.

He stressed the transformation conducted by MyIPO was in line with the proposition of the government for a paradigm shift for the nation to continue to stay relevant in the technological race at international level.

For the record, MyIPO received 11,376 applications of intellectual property between January and August this year and registered 7,364 intellectual property during the same period.

Hasan said KPDNKK also planned to create intellectual property evaluators to enable intellectual property to be used as collaterals at banks.

A total 388 participations were received for the awards this year, compared to 332 last year which saw a hike in participation among school students.

Universiti Putra Malaysia beat seven others to grab the first prize of Best Management of Intellectual Property for the organisation category and walked away with RM30,000 in cash, a trophy, challenge trophy and certificate.